Topic: The State of Bitcoin - page 2. (Read 512 times)
but it seems to me that bitcoin will not last long because of its lack of stability, which pulls everyone down ((although as we say, we will see! Of course we want to believe that all the same bitcoin will become the crypto currency of the future!
A large part of the problem with bitcoin is that most of the people who got in with the right reasons in the early days are now multi-millionaires and enjoying lives away from bitcoin. Now the community is greatly different and it's full of cash hungry people, these are the guys who will be taken advantage of by the so called 'status quo'.
What measures do you suggest could be implemented to combat some of the problems that you've highlighted?
What measures do you suggest could be implemented to combat some of the problems that you've highlighted?
As a first step, the bitcoin core team (and maybe the developers who are spending their dear time developing Bitcoin) must realise and come forth to an agreement that the Bitcoin project must take a stand about abusement of its usage. In every symbiotic environment (for example, humans/animals) there are mechanisms of status quo (or at least they are implemented). This will ensure at a first stage that the Bitcoin usage is protected (at first to a degree) in such that it cannot be manipulated to everyone's heart content. We as a community can affect this decision to alter and start this implementation by the bitcoin core team, but unless them realising the main issues, one can only just talk.
Of course one would say that protection mechanisms is anti decentralization due to having another layer of "control" by some other system. But what I am suggesting is sort of "proof of justice" mechanism, where we the community can use the blockchain stored information to handle a misusage alert (where as a whale dump 20K Bitcoins and completely change prices in a mere seconds) or in the future, when a company might control 51% of the consensus and start issuing bitcoins whenever they want. We need to come by a global-blockchain-justice-system that is not govern by anyone, but gives the bitcoin a way to mitigate mis-usages.
A large part of the problem with bitcoin is that most of the people who got in with the right reasons in the early days are now multi-millionaires and enjoying lives away from bitcoin. Now the community is greatly different and it's full of cash hungry people, these are the guys who will be taken advantage of by the so called 'status quo'.
What measures do you suggest could be implemented to combat some of the problems that you've highlighted?
What measures do you suggest could be implemented to combat some of the problems that you've highlighted?
Hey all,
I've been watching Bitcoin since its inception (whitepaper) by Satoshi, and have been following the Bitcoin phenomenon grow upon the US and then the rest of the world throughout the years, and while Bitcoin had it's ups and downs (prices/usage, but mainly the fear a round it this last year) it's been a huge success and an amazing project that had withstood the biggest and strongest evil forces you can think off (governments, state judges, whales, asic companies, ...etc) and it seems to me that Bitcoin will probably have few more years it needs to suffer as it becomes fully mainstream and finally a part of our life as a decentralized currency.
Whatever happens to Bitcoin is totally in our hands, but we cannot let individuals ruine Bitcoin. Individuals like whales/51% consensus pools (company) and more. Although it's decentralized, and quite fast (with the aid of the Lightning Network of course) I think that Bitcoin Core must implement some sort of protection/punishing mechanism to make sure the status quo is not affected by the hands of those wishing to control it, and therefore doing whatever they want with it (dumping prices, withholding coins) ...etc.
It's time that developers really think hard on the state of Bitcoin and where the true vision of Satoshi (either a group or individual it doesn't matter) is. It's our obligation to remain true to that vision and make sure that deventralization at its core means true equality to its users.
Whatever your thoughts are, please share and let the community follow what's right, not what is!
I've been watching Bitcoin since its inception (whitepaper) by Satoshi, and have been following the Bitcoin phenomenon grow upon the US and then the rest of the world throughout the years, and while Bitcoin had it's ups and downs (prices/usage, but mainly the fear a round it this last year) it's been a huge success and an amazing project that had withstood the biggest and strongest evil forces you can think off (governments, state judges, whales, asic companies, ...etc) and it seems to me that Bitcoin will probably have few more years it needs to suffer as it becomes fully mainstream and finally a part of our life as a decentralized currency.
Whatever happens to Bitcoin is totally in our hands, but we cannot let individuals ruine Bitcoin. Individuals like whales/51% consensus pools (company) and more. Although it's decentralized, and quite fast (with the aid of the Lightning Network of course) I think that Bitcoin Core must implement some sort of protection/punishing mechanism to make sure the status quo is not affected by the hands of those wishing to control it, and therefore doing whatever they want with it (dumping prices, withholding coins) ...etc.
It's time that developers really think hard on the state of Bitcoin and where the true vision of Satoshi (either a group or individual it doesn't matter) is. It's our obligation to remain true to that vision and make sure that deventralization at its core means true equality to its users.
Whatever your thoughts are, please share and let the community follow what's right, not what is!
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